GB GROUP PLC
Company number: 02415211
Reporting period:
1 October 2020 to 31 March 2021
Report filed on:
29 October 2021
Approved by:
David Ward
Payment statistics
Average time taken to pay invoices: 29 days
Invoices paid:
- within 30 days: 76%
- in 31 to 60 days: 16%
- in 61 days or more: 8%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 65%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
120 days
Standard payment terms
https://www.gbgplc.com/media/1i5e0muz/gbg-supplier-agreement-non-data-v3-0-30-10-2020.pdf Section 10.4 in GB Group plc’s supplier terms and conditions states our standard terms as the following: "such payment shall normally be made within 30 days of receipt by GBG of the invoice, provided that GBG has received a correctly submitted invoice via email to purchase.invoices@gbgplc.com (the “Invoice Process”). For the avoidance of doubt, GBG shall not be liable for invoices where the Invoice Process has not been followed by the Supplier"
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
120 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
https://www.gbgplc.com/media/1i5e0muz/gbg-supplier-agreement-non-data-v3-0-30-10-2020.pdf Section 12. Any fees disputed by GBG in good faith may be deducted from the invoice providing that the remainder is paid by the due date. The disputed amount should be notified by email to the Supplier giving reasons for withholding payment. Upon receipt of GBG dispute notice, the Supplier and GBG will work together in good faith to resolve such disputes in a prompt and mutually acceptable manner. GBG agrees to pay any previously disputed amounts within 30 days once the issues have been resolved. 12.2 Subject to clause 12.1, whenever under the Agreement any sum of money shall be recoverable from or payable by the Supplier, such sum may be deducted from any amount then due from GBG, or which at any time thereafter may become due, to the Supplier under the Agreement or any other agreement or arrangement with GBG. 12.3 Subject to clause 12.1, any over-payment by GBG to the Supplier (whether in respect of the Agreement Price or Value Added Tax) shall be a sum of money recoverable by GBG from the Supplier and such sum may be deducted from any amount then due from GBG to the Supplier. All invoices should be addressed to GB Group plc, Herons Way, Chester Business Park, Chester, CH4 9GB. Accounts payable can be contacted by calling 01244 657048 or by emailing purchase.invoices@gbgplc.com. Disputes may be raised by emailing purchase.invoices@gbgplc.com in the first instance and your account contact.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
No
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No